Fort Worth-based Range Resources said today that on May 31 it took steps to settle an Oklahoma class-action lawsuit for $87.5 million. Plaintiffs in the suit, filed in 2010, had sought $160 million in alleged underpayments on royalties. Range in April said it set aside $35 million in potential expenses related to the case. In today's filing, Range said it reached a memorandum of understanding that sets forth a final settlement in the amount of $87.5 million, which includes interest. As a result, Range will take an additional charge of $52.5 million in this year's second quarter.
-- Jim Fuquay